Chumpower Machinery (Taiwan) Market Value
| 4575 Stock | TWD 21.80 0.05 0.23% |
| Symbol | Chumpower |
Chumpower Machinery 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Chumpower Machinery's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Chumpower Machinery.
| 07/02/2024 |
| 12/29/2024 |
If you would invest 0.00 in Chumpower Machinery on July 2, 2024 and sell it all today you would earn a total of 0.00 from holding Chumpower Machinery Corp or generate 0.0% return on investment in Chumpower Machinery over 180 days. Chumpower Machinery is related to or competes with Turvo International, Sanyang, Global PMX, Yulon Nissan, and Cayman Engley. Chumpower Machinery Corp. manufactures PET blow molding molding machines in Taiwan and internationally More
Chumpower Machinery Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Chumpower Machinery's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Chumpower Machinery Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 9.01 | |||
| Value At Risk | (3.18) | |||
| Potential Upside | 3.03 |
Chumpower Machinery Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Chumpower Machinery's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Chumpower Machinery's standard deviation. In reality, there are many statistical measures that can use Chumpower Machinery historical prices to predict the future Chumpower Machinery's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.08) | |||
| Total Risk Alpha | (0.12) | |||
| Treynor Ratio | 1.45 |
Chumpower Machinery Corp Backtested Returns
Chumpower Machinery Corp secures Sharpe Ratio (or Efficiency) of -0.0317, which signifies that the company had a -0.0317% return per unit of risk over the last 3 months. Chumpower Machinery Corp exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Chumpower Machinery's Standard Deviation of 1.71, risk adjusted performance of (0.03), and Mean Deviation of 1.09 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.0529, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Chumpower Machinery are expected to decrease at a much lower rate. During the bear market, Chumpower Machinery is likely to outperform the market. At this point, Chumpower Machinery Corp has a negative expected return of -0.0544%. Please make sure to confirm Chumpower Machinery's information ratio, total risk alpha, potential upside, as well as the relationship between the jensen alpha and treynor ratio , to decide if Chumpower Machinery Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.40 |
Average predictability
Chumpower Machinery Corp has average predictability. Overlapping area represents the amount of predictability between Chumpower Machinery time series from 2nd of July 2024 to 30th of September 2024 and 30th of September 2024 to 29th of December 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Chumpower Machinery Corp price movement. The serial correlation of 0.4 indicates that just about 40.0% of current Chumpower Machinery price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.4 | |
| Spearman Rank Test | 0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 0.64 |
Chumpower Machinery Corp lagged returns against current returns
Autocorrelation, which is Chumpower Machinery stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Chumpower Machinery's stock expected returns. We can calculate the autocorrelation of Chumpower Machinery returns to help us make a trade decision. For example, suppose you find that Chumpower Machinery has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Chumpower Machinery regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Chumpower Machinery stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Chumpower Machinery stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Chumpower Machinery stock over time.
Current vs Lagged Prices |
| Timeline |
Chumpower Machinery Lagged Returns
When evaluating Chumpower Machinery's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Chumpower Machinery stock have on its future price. Chumpower Machinery autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Chumpower Machinery autocorrelation shows the relationship between Chumpower Machinery stock current value and its past values and can show if there is a momentum factor associated with investing in Chumpower Machinery Corp.
Regressed Prices |
| Timeline |
Pair Trading with Chumpower Machinery
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Chumpower Machinery position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Chumpower Machinery will appreciate offsetting losses from the drop in the long position's value.Moving against Chumpower Stock
| 0.74 | 2603 | Evergreen Marine Corp | PairCorr |
| 0.7 | 4506 | Golden Friends | PairCorr |
| 0.7 | 2881A | Fubon Financial Holding | PairCorr |
| 0.66 | 6613 | Nova Technology | PairCorr |
| 0.62 | 2609 | Yang Ming Marine | PairCorr |
The ability to find closely correlated positions to Chumpower Machinery could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chumpower Machinery when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Chumpower Machinery - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Chumpower Machinery Corp to buy it.
The correlation of Chumpower Machinery is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Chumpower Machinery moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Chumpower Machinery Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Chumpower Machinery can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Additional Tools for Chumpower Stock Analysis
When running Chumpower Machinery's price analysis, check to measure Chumpower Machinery's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Chumpower Machinery is operating at the current time. Most of Chumpower Machinery's value examination focuses on studying past and present price action to predict the probability of Chumpower Machinery's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Chumpower Machinery's price. Additionally, you may evaluate how the addition of Chumpower Machinery to your portfolios can decrease your overall portfolio volatility.